question archive Linda borrowed 60,000 from her parents for a down payment on a condo
Linda borrowed 60,000 from her parents for a down payment on a condo
Subject:AccountingPrice: Bought3
Linda borrowed 60,000 from her parents for a down payment on a condo. she paid interest of 5,500 in 2017, 0 in 2018, and 9,000 in 2019. the IRS disallowed the deduction. Can you offer any explanation for the disalloweance?
